News

Iran, one of the largest billet exporter in MENA region has
recently faced secondary sanctions from US. Secondary sanctions targeted
banking, insurance and shipping sector of the nation. Owing to economic
sanctions, the export of various commodities including steel has come down.

Recently Mr. Mohammad Lahouti, Chairman of the Board of Directors
of the Export Confederation of Iran, said, "Over the past six months the
export of Iran has adversely affected due to wrong policies, prohibitions and
restrictions, closure of orders, problem in procurement of raw materials,
non-compliance with the rules for declaring export prohibitions and enforcement
of decisions has not only affected exports, but also weakened the economic
position of the country in the world.

He added,” this problem has created a bad image of Iranian
exporters in the world market which ended up by losing export markets lost. The
point is that if we later want to regain these markets, it will be very
difficult as this destruction of the image of Iranian businessmen cannot be
easily corrected. "

Mr. Lahouti said, "The issuance of successive directives,
prohibitions and restrictions that has been imposed in last few months has
unfortunately killed the golden opportunity to export.”

Talking about exchange rate realization, Mr Lahouti said,
“"The exchange rate explosion had a negative impact on all sectors of the
country's economy, the only place where it could have become an opportunity was
the field of exports, but owing to these policies and restriction it was
destroyed. If we look at the statistics when the exchange rate was 4 times
higher, exports did not grow considerably and the opportunity to do good
business was lost with the wrong decisions. "